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Benzinga
Benzinga
Business
Akanksha Bakshi

Sandvik Receives SEK 250M Order From Codelco For AutoMine Solutions

  • Sandvik AB' (OTC:SDVKY) Sandvik Mining and Rock Solutions has received an order for the AutoMine load and haul automation system valued at SEK 250 million from Chilean mining company Codelco, to be used in the El Teniente mine.
  • Additionally, the company received a connected load and haul equipment order of SEK 150 million, bringing the total value of the orders to SEK 400 million.
  • The company has booked both the orders in 4Q21, and the contracts will run from 2022 through 2027.
  • During 2022 and 2023, Codelco will receive Toro TH663i trucks and Sandvik LH514 loaders, AutoMine Fleet system, and AutoMine production area hardware for future expansions over several years.
  • From 2023 through 2027, Sandvik will deliver additional trucks and loaders to the AutoMine Fleet system.
  • Price Action: SDVKY shares closed higher by 1.47% at $28.36 on Monday.
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